Series A Funding: A Transformative Triumph
Leveraging over $100 million in a Series A private stock sale, the Multidisciplinary Association for Psychedelic Studies (MAPS) Public Benefit Corporation, a decade after its inception as a subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), has made significant strides. This remarkable feat will propel their efforts to clinch regulatory approval for the sale of MDMA, commonly known as ecstasy, as a treatment for post-traumatic stress disorder (PTSD).
The establishment, incubator of the lone psychedelic-assisted therapy research program to successfully conclude two Phase 3 studies and submit a New Drug Application to the FDA, is posed to redefine therapeutic paradigms.
A New Dawn for Veterans
The U.S. Department of Veterans Affairs (VA) has embarked on groundbreaking research, initiating studies on the utilization of psychedelic compounds to address post-traumatic stress disorder (PTSD) and depression among military veterans. This historically unprecedented move signals a paradigm shift for the VA, a pioneering endeavor that marks their first foray into such research since the 1960s.
This bold initiative will delve into assessing the efficacy and safety of MDMA and psilocybin-augmented psychotherapy in veterans, a significant step forward in advancing the prospects of these therapies.
Faces of Progress And Impact
The vanguard of psychedelic medicine encapsulates an eclectic ensemble that comprises individuals from diverse backgrounds, ranging from scientists and investors to advocates and policy reformers. This assembly of 30 individuals encompass both emerging startups and established corporations, painting a global mosaic that underscores the pervasive influence of the psychedelic therapy movement.
While not exhaustive, this assembly of global luminaries offers vital insights into the ongoing progress and untapped potential within this transformative realm.
Redefining Policies: A Nationwide Shift
Coinciding with recent federal and VA decisions, the landscape of state-level psychedelics policy reform is experiencing a rapid transformation across the country. Notable developments in Arizona, California, Illinois, Indiana, Massachusetts, Missouri, Nevada, New Hampshire, New York, Rhode Island, Virginia, Washington, and Wisconsin, as of January 9, 2024, are indicative of the fervent pace of reformation. Moreover, Ypsilanti has emerged as the fifth city in Michigan to decriminalize psychedelics through a local resolution.
Market Performance: An Intriguing Picture
The AdvisorShares Psychedelics ETF (PSIL) has depicted a compelling performance, commencing at $1.41 on Monday, January 8. Notably, it concluded the week at $1.47, reaching a high of $1.64 on Tuesday, January 9. These trends signify an intriguing narrative within the realm of psychedelic ETFs.
Top Performing Stocks
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COMPASS Pathways (CMPS) closed at $8.44, marking a decline from prior closings at $8.76.
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GH Research (GHRS) concluded at $6.03, surging from previous closings.
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Incannex Healthcare (IXHL) achieved a closing of $4.30, depicting upward momentum.
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Mind Medicine (MindMed) sealed the week at $3.96, marginally trailing the preceding week’s closure.
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Atai Life Sciences (ATAI) wrapped up at $1.96, exhibiting an upward trajectory.
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Bright Minds Biosciences (DRUG) concluded at $1.93, advancing from the previous weeks’ performances.
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Silo Pharma (SILO) closed at $1.45, nearly aligning with the past three weeks’ conclusions.
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Seelos Therapeutics (SEEL) sealed the week at $1.44, maintaining a consistent pattern with prior closings.
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Clearmind Medicine (CMND) concluded at $1.34, registering a significant decline compared to previous weeks.
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Enveric Biosciences (ENVB) closed at $1.27, continuing the established trend from prior weeks.
Stock trading statistics mentioned above are sourced from Benzinga Pro, our comprehensive streaming platform tailored to facilitate informed investment decisions.
